Bae Systems (OTCMKTS:BAESY) Shares Gap Down – Here’s Why

Bae Systems PLC (OTCMKTS:BAESY) shares gapped down prior to trading on Monday . The stock had previously closed at $113.63, but opened at $109.8525. Bae Systems shares last traded at $110.44, with a volume of 5,113 shares changing hands.

Analyst Upgrades and Downgrades

BAESY has been the subject of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Bae Systems in a research note on Thursday, June 25th. Kepler Capital Markets raised Bae Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 24th. Royal Bank Of Canada initiated coverage on Bae Systems in a research report on Tuesday, August 11th. They set a “sector perform” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Bae Systems in a report on Tuesday, August 11th. Finally, Erste Group Bank cut Bae Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Bae Systems Trading Up 0.5%

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.87 and a current ratio of 0.99. The company’s 50 day moving average is $108.77 and its 200 day moving average is $110.87.

Institutional Trading of Bae Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Bae Systems by 2.5% during the 2nd quarter. GAMMA Investing LLC now owns 3,969 shares of the aerospace company’s stock worth $389,000 after buying an additional 96 shares during the last quarter. Confluence Investment Management LLC lifted its stake in Bae Systems by 0.9% in the second quarter. Confluence Investment Management LLC now owns 13,420 shares of the aerospace company’s stock valued at $1,314,000 after buying an additional 115 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Bae Systems by 135.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,983 shares of the aerospace company’s stock valued at $464,000 after acquiring an additional 2,293 shares during the period. Collaborative Fund Advisors LLC purchased a new position in shares of Bae Systems during the first quarter worth approximately $897,000. Finally, Sterling Capital Management LLC purchased a new position in shares of Bae Systems during the first quarter worth approximately $1,146,000. 0.21% of the stock is owned by hedge funds and other institutional investors.

Bae Systems Company Profile

BAE Systems plc is a global defense, security and aerospace company that designs, develops and manufactures a broad range of military and related products and services. Formed in 1999 through the combination of British Aerospace and Marconi Electronic Systems, the company supplies platforms, systems and support across air, land, maritime and cyber domains. Its portfolio spans combat and support aircraft systems, naval shipbuilding and subsystems, armored and land combat solutions, electronic and sensor systems, munitions, and intelligence, surveillance and cybersecurity capabilities.

BAE Systems serves government and military customers worldwide, with particularly large footprints in the United Kingdom and the United States as well as operations and sales across Europe, the Middle East, Australia and other markets.